Journal of Accountancy Podcast

This episode is a midsummer look back at insights from selected 2023 podcast guests, from a Super Bowl CFO to the AICPA vice chair.

A survey report that focuses on enterprise risk management (ERM) and offers tools for risk practitioners is the focus of this episode of the JofA podcast. The 14th edition of The State of Risk Oversight, a report produced jointly by the AICPA & CIMA, together as the Association of International Certified Professional Accountants, and the ERM Initiative at North Carolina State University, shows that the volume and complexity of risks continues to be prominent on the radar of leaders at U.S. organizations of all types and sizes. However, complete and formal ERM processes are just as common now as five years ago, after the survey showed nearly a decade of increased interest in ERM. Mark Beasley, CPA, Ph.D., a professor at N.C. State and director of the school's ERM Initiative, analyzes the disconnect, explains why a post-pandemic sigh of relief is not a good sign for risk managers, and shares some of the questions that organizations can ask themselves to improve their ERM practices. What you'll learn from this episode: · An overview of the annual survey, and why it appears that interest in establishing complete and formal risk management appears to have leveled off. · Beasley says there's a "false sense of security" related to risk management. · Why defining an organization's crown jewels is a key first step in risk management. · The obstacles that inhibit some organizations' risk management efforts. · Questions related to risk management that can be part of your next company strategy meeting.

In this podcast episode, a collaboration between the JofA and the Tax Section Odyssey podcasts, Tony Nitti, CPA, partner—National Tax at EY, joins April Walker, CPA, CGMA, lead manager—Tax Practice & Ethics at AICPA & CIMA, from ENGAGE 2023. The main topic of their discussion is Rev. Rul. 2008-18, delving into S corporation reorganizations. Related resources Rev. Rul. 2008-18 — Postulates two situations in which an S corporation becomes a qualified subchapter S subsidiary (QSub) of a newly formed corporation that will qualify as an F reorganization. The ruling also provides new guidance on the proper employer identification number (EIN) to be used by the entities in each situation. Private equity and F reorganizations involving S corporations — The Tax Adviser, Sept. 1, 2020 6 reasons an S corporation wouldn't need a PLR | Tax Section Odyssey — Rev. Proc. 2022-19 provides procedures to allow S corporations and their shareholders to resolve frequently encountered issues without requesting a PLR. What you'll learn from this episode: · How S corp. buyers can protect themselves against the risk of invalid S elections. · An overview of Rev. Rul. 2008-18 and a hypothetical example of its applicability. · A review of Rev. Proc. 2022-19 and fixes to invalid S elections. · The extra step when an S corp. owns 100% of a qualified Subchapter S subsidiary.

Donny Shimamoto, CPA/CITP, CGMA, the founder and managing director of Intraprise TechKnowlogies LLC, recently co-hosted a conference session on feedback – specifically, how high performing employees sometimes get a low amount of valuable feedback. Such high performers can have their development halted if they fail to seek out the right feedback to advance in their careers, Shimamoto said. Shimamoto also reflected on the recently completed AICPA & CIMA ENGAGE, highlighting the words of Carla McCall, CPA, CGMA, the AICPA vice chair, about asking for help. What you'll learn from this episode: · Donny Shimamoto's reflection on last month's AICPA & CIMA ENGAGE. · Why employees identified early as high performers sometimes fail to receive meaningful feedback. · Shimamoto's comparison of performance reviews and financial statements. · Why an ENGAGE session about mental health resonated with him.

As the components of a company's value change, the role of finance must adapt to what it reports and how it manages tangible and intangible assets. That shift was underscored with the release of new global sustainability standards by the International Sustainability Standards Board, and it's the topic of this episode of the JofA podcast. Ash Noah, CPA, CGMA, FCMA, managing director—Management Accounting and ESG for AICPA & CIMA, together as the Association of International Certified Professional Accountants, explains briefly what the two standards are and what he sees changing for organizations going forward, in the U.S. and elsewhere. Noah wrote a blog in May about the new imperative for accountants related to reporting on environmental, social and governance (ESG) factors. In this episode, he goes into more detail about what the new standards mean for business and the profession. What you'll learn from this episode: · Noah's description of what is addressed in the new standards, IFRS S1 and IFRS S2. · Details on types of intangible assets. · How the release of the standards is likely to affect U.S. companies. · The AICPA & CIMA vision around the standards, according to Noah. · How the role of finance changes with the release of the standards.

Advising legal cannabis-related businesses is a growing opportunity for CPAs. The landscape is ever-changing, on regulatory and other fronts. Andrew Hunzicker, CPA, the founder and CEO of Dope CFO Certified Advisors in Oregon, and Ron Seigneur, CPA/ABV, founder and partner at the firm Seigneur Gustafson LLP in Colorado, joined the JofA podcast recently to provide an update on what has changed in the industry as well as highlights of the upcoming AICPA & CIMA Cannabis Industry Conference, Aug. 14-16 in Boston. They discuss common questions CPAs have, how laws and regulations have changed over the years, and more. What you'll learn from this episode: · An overview of the cannabis industry's regulatory landscape since one of the speakers was on a JofA podcast episode in 2020. · What attendees can expect at the AICPA & CIMA Cannabis Industry Conference in August. · Details about accounting-specific guidance as it relates to cannabis businesses. · The questions that Hunzicker and Seigneur often get about advising cannabis businesses. · A list of some of the specific niches that make up the cannabis industry.

Chris Ortega is an upbeat person, as anyone who's seen him present at a conference knows. But he also understands that, economically, times are tough, and he has advice for finance professionals to manage through the uncertainty. Ortega also shares how his role at conferences has changed since he first began volunteering, why he likes coming back to AICPA & CIMA ENGAGE, and what he sees for the future of financial planning and analysis (FP&A). What you'll learn from this episode: · Chris Ortega's career progression from financial planning and analysis (FP&A) analyst to consultancy CEO. · How the realm of FP&A and CFOs has changed in the past 18 months. · Ortega's advice for CFOs related to building up cash reserves. · The value Ortega found in volunteering to be on the planning committee for a conference. · His answer to the question, "In five years, what does FP&A look like?"

Carla McCall, CPA, CGMA, was a prominent speaker at AICPA & CIMA ENGAGE 2023 for good reason. On this episode of the Journal of Accountancy podcast, McCall, recently named AICPA vice chair, discusses her career path and interest in volunteering while also serving as managing partner of the firm AAFCPAs. McCall shares some of the key traits of leaders, what her firm is doing to address capacity issues, and one aspect of feedback that she considers difficult. What you'll learn from this episode: · An overview of McCall's career in public accounting. · Why gaining an outside perspective has helped McCall and her firm. · How she has learned to delegate responsibilities over the years. · An obstacle McCall faced regarding mentorship early in her career. · What she looks forward to in her role as AICPA vice chair.

CPA decision-makers in business and industry weren't optimistic at the end of last year, but their outlook grew a bit sunnier as 2023 began. Now, as 2023's midpoint approaches, the outlook of finance executives is again taking on a more pessimistic tone in a quarterly survey. Contraction plans are more common, and projections for revenue and profit have declined. Ken Witt, CPA, CGMA, AICPA & CIMA's associate director–Management Accounting Research and Development, discusses the results of the Economic Outlook Survey in this podcast episode. What you'll learn from this episode: · An overview of second-quarter survey results. · Why Witt now says that the fourth quarter of 2022 may not represent "the bottom" in terms of sentiment. · How the high-interest-rate environment is affecting companies. · Examples of more stringent lending requirements that businesses are facing. · The hiring outlook and projections for the coming 12 months for revenue and profit.

ChatGPT and other generative artificial intelligence bots have made a big splash this year, with ChatGPT even passing the CPA Exam earlier this month, but there is another kind of bot accountants need to know about. Cybercriminals have started using bots to identify zero-day vulnerabilities in routers, servers, smartphones, Windows, web browsers, and antivirus software. Once the hackers discover a vulnerability, they send out their bots to exploit it in as many places as possible, with CPA firms and finance departments among the potential targets. What can CPAs do to shore up their cyberdefenses? The latest episode of the Journal of Accountancy podcast, produced in partnership with the Small Firm Philosophy podcast, addresses that question with Roman Kepczyk, CPA/CITP, CGMA, director of firm technology strategy for Right Networks and author of the AICPA Private Companies Practice Section's CPA cybersecurity checklist. What you'll learn from this episode: · What a zero-day vulnerability is and why patching is so important. · The latest in strong password rules and tools. · Key cybersecurity risks and mitigation strategies for remote workers. · The technology trend Kepczyk is most excited about.

Technology experts in the accounting space have plenty to say about the assets that organizations should protect from cybercriminals, what Web 3.0 could mean for the profession, and what skills future CPAs will need. This is part two of a two-part conversation with: n Amanda Wilkie of Boomer Consulting; n Wesley Hartman of Kirsch Kohn & Bridge LLP; and n Donny Shimamoto, CPA/CITP, CGMA, of IntrapriseTechKnowlogies. The conversation also was turned into a JofA article. The podcast episode of the first part of the conversation was posted May 11. The speakers are scheduled to present at AICPA & CIMA ENGAGE in Las Vegas the week of June 5. Resources n Previous podcast conversation with Hartman about RPA. n The 2020 podcast episode that featured tech roundtable participants Wilkie and Shimamoto.

Technology experts in the accounting industry have plenty to say about ChatGPT, staffing issues and a push toward more automation, and how organizations can decide which projects are done in house or through outsourcing. This is part one of a two-part conversation with: n Amanda Wilkie of Boomer Consulting; n Wesley Hartman of Kirsch Kohn & Bridge LLP; and n Donny Shimamoto, CPA/CITP, CGMA, of IntrapriseTechKnowlogies. The conversation also was turned into a JofA article. The second part will be published in podcast form on May 18 on the JofA's podcast page. Resources n Previous podcast conversation with Hartman about RPA. n The 2020 podcast episode that featured tech roundtable participants Wilkie and Shimamoto.

For Dan Griffiths, CPA, CGMA, the president at Lume, a deodorant company headquartered in Utah, taking a rigorous approach to analysis – whether it be marketing spending or performance management – is critical. The human side of running a business is also important. In a conversation more than seven years ago, Griffiths spoke about emotional intelligence, a skill that has served him well in a fully remote company. "We have to be paying much closer attention to what cues we're getting from different members of the team," he said. In this Journal of Accountancy podcast episode, Griffiths offers leadership tips, reflects on what he did and didn't know in making a move from a CPA firm to a retail company, and uses a baseball analogy to explain how performance management should work. Griffiths is scheduled to speak at next week's AICPA & CIMA CFO Conference on the topic of performance management.

Terrell Williams is about to graduate with a master's degree in accounting. That's something he never would have considered after dropping out of college nearly 10 years ago. A chance event in his hometown of Louisville, Ky., changed everything for Williams. He nearly died outside a convenience store one March afternoon. "My time was ticking," he said. In this episode of the Journal of Accountancy podcast, Williams explains what happened, how he viewed it as the "start of a new life," how he found accounting, and why he's living life with more purpose. What you'll learn from this episode: Williams' recount of the life-changing events of March 29, 2017, in Louisville, Ky. Why he said his first attempt at attending college didn't go well. The volunteer work Williams does in his hometown. Some of Williams' mentors, outside of the family that he says "raised me right." What's next for Williams after graduation from the master's in accounting program at N.C. State.

Incentivize the behaviors you want. That was the theory behind GRF CPAs & Advisors' decision to change its partner compensation model several years ago. Firm leaders knew that if they wanted their partners to operate as a cohesive team, they needed to stop paying partners in ways that drove individualistic behaviors. More than five years later, GRF President and Managing Partner Jackie Cardello, CPA, says that while the process was a lot of work, the results "absolutely" have been worth it. What did GRF change, and how have the firm's fortunes improved? Find out from Cardello and GRF partner Elinor Litwack, CPA, in this episode, produced in partnership with the Small Firm Philosophy podcast.

Nikki Winston, CPA, can recall a time when, for her, it might have been easy to give up on pursuing CPA licensure. Now, she receives messages from CPA candidates and advises them on how to continue to the journey. Winston, a career coach and CPA Exam strategist, shares in this episode the common questions she gets from students and why she believes that the 150-hour educational requirement for CPA licensure should not change. Resources: "Understanding the Top Challenges to Becoming a CPA"; A video on how mobility for CPAs would be hampered by changing educational requirements for licensure; and Advice for adding the hours required beyond those of a four-year college degree. What you'll learn from this episode: Winston's advice to approach educational requirements as if going through a buffet line. Why knowledge in areas such as securitization and tax can end up being valuable. The types of messages Winston often receives from accounting candidates seeking coaching or CPA Exam preparation. Why Winston said that the profession should be trying to reach students well before they enter high school. The personal example that applies to Winston's words: "Don't be intimidated by other people's exam experiences."

It's obvious that change is happening rapidly these days, but is the accounting profession moving quickly enough to adapt to that change? It's a question Joey Havens, CPA, has pondered often in his career at the firm Horne LLP. Havens joined the Journal of Accountancy podcast to discuss the building of organizational culture, why the word "enduring" has been a strand running through his career, and why he likes to ask the question "Are we moving fast enough?" Havens is a speaker at AICPA & CIMA ENGAGE in June in Las Vegas.

As consumers, the current environment of higher interest rates affects us in several ways. One of the obvious ways is for potential homebuyers, who are keenly aware of 30-year mortgage rates that are far higher now than several years ago. But how do higher rates affect accounting practitioners and their business clients? Bob Durak, CPA, CGMA, has a few answers in the latest episode of the Journal of Accountancy podcast. Durak, director–Audit and Accounting Technical Services at AICPA & CIMA, together as the Association of International Certified Professional Accountants, also explains the role that the Center for Plain English Accounting (CPEA) plays in assisting small to midsize firms with new or less obvious risks related to interest rates. Hear more about why fraud could rise along with interest rates, what high rates might have to do with revenue recognition, and more about a recent CPEA report that details the current rate environment.

Hamza Khan had just spoken at a TEDx event in 2016 when he got a message from his boss: See me in my office, first thing in the morning. Khan, an author and speaker who will deliver the May 10 keynote address at the AICPA & CIMA CFO Conference in Salt Lake City, recounts the initial reaction to his talk about management of people — it was not all positive. But the content was prescient, a pre-pandemic look at flexible work.

Avani Desai, CPA, doesn't trace her journey to becoming the CEO of a top firm to her youth — she goes back to before her birth, to the emphasis her grandparents put on education in the 1940s in India. In keeping with the "starting early" theme, Desai believes that, instead of talking to students about accounting in their third year of college, the profession needs to reach out to students in the third grade. And she lived that example recently, visiting her daughter's elementary school classroom.

Overall, positivity about the U.S. economy remains muted, with just 23% of respondents to a recent survey saying they are optimistic about the domestic outlook for the next 12 months. That's an improvement from the fourth quarter, when just 12% expressed optimism. Also, 45% of respondents in the first-quarter Business and Industry Economic Outlook Survey are optimistic about their own businesses, up from 35% at the end of last year.

Kelly Richmond Pope, CPA, CGMA, is a professor at DePaul University and the author of a book scheduled to be published later this month on fraud. Fool Me Once: Scams, Stories, and Secrets From the Trillion-Dollar Fraud Industry is designed to help people "see themselves or see their businesses in the stories" so that they can improve their defenses against fraud. Pope details an interactive game related to the book that can help educate business owners about fraud and the motivations of fraudsters.

Uncertainty isn't going away. And because of that, entrepreneur and consultant Pascal Finette says that organizations and leaders should think differently about how they view the current business environment. Finette, a keynote speaker at the Future of Finance Summit in Austin, Texas, challenges leaders to think of uncertainty as an opportunity, not an obstacle. He asks: "How do you actually show up as a leader in a world of uncertainty and lead into, and then lead, in the unknown?" Also, here's the late 2021 interview with Finette in which he talked about the accounting profession's "interesting inflection point."

A well-defined, vibrant work culture certainly can help employees perform at or above expectations. And a poor culture can absolutely be a performance constraint. But how do leaders change culture, or grow it in the age of remote and dispersed workforces? Kerry Brown has a few thoughts. Brown specializes in workforce transformation, and she spoke recently to finance executives about such issues at the Future of Finance Summit in Austin, Texas.

Robin Thieme, CPA/CITP, CGMA, the founder and CEO of KBS CFO, has gotten all kinds of questions over the years from clients. As an early adopter of offering advisory and fractional CFO services, she's someone well versed to share the insights that simply getting those questions can unearth.

Making a run to the Super Bowl never gets old. That's one of the messages that Dan Crumb, CPA, CGMA, the CFO of the Kansas City Chiefs, shares in this episode of the Journal of Accountancy podcast. The team has qualified for the Super Bowl three of the past four seasons, and Crumb encourages the members of his finance team to "step back and soak this moment in" — in between doing extra work in advance of Super Bowl LVII on Sunday.

Steve Ursillo, CPA/CITP, CGMA, is a partner in the Risk & Accounting Advisory Group at Cherry Bekaert and the firm's national leader of information assurance and cybersecurity. He explains much about digital assets and the threats that digital asset owners must guard against. Cyberattacks are on the rise, including attacks focused on digital assets In this podcast episode, Ursillo explains the threat landscape and offers advice on the safeguards that organizations should have in place to prevent the theft of digital assets.

Jody Grunden, CPA, the co-founder and CEO of Summit CPA Group, isn't afraid to fail — he says he's done it many times over the years. The firm, now part of Anders CPAs + Advisors thanks to a 2022 merger, is an innovator in several aspects of client billing and payment, from getting away from paper checks to escaping the "rat race" of hourly billing. Grunden, the author of two books, explains on this episode of the Journal of Accountancy podcast some about Summit's journey, why his co-founder at first was against a move to remote work, and why his approach to risk is more about developing a workaround than deciding to retreat.

Consternation and chaos are two of the words used to describe some of the reactions to IRS updates related to Schedules K-2 and K-3. On this collaboration episode with the Tax Section Odyssey podcast, CPAs Tim Chan of KPMG and David Sites of Grant Thornton talk about the particulars with April Walker, CPA, CGMA, lead manager–Tax Practice & Ethics for AICPA & CIMA, together as the Association of International Certified Professional Accountants.

Orumé Hays, CPA, CGMA, didn't follow a traditional path to owning an accounting practice. From Africa to the Big Apple, she blazed a trail all her own. Raised in Nigeria, Hays moved to Miami with a college degree in sociology and anthropology and a budding career in modeling and acting. Her pursuit of Hollywood stardom peaked with appearances in the 1996 movie The Birdcage. She then discovered a new passion. Pursuing education and experience, she built her accounting career and launched her own firm in New York City.

On Wednesday, National Taxpayer Advocate Erin Collins delivered an annual report to Congress, saying that the IRS is in better shape than at this time a year ago. Now, to talk more about those issues and offer advice for taxpayers and tax practitioners, Collins is appearing on the Journal of Accountancy podcast. The interview was recorded Dec. 20.

In November, Paul Young, CPA, CGMA, senior executive vice president and CFO at Liberty Bank, was part of the formal recognition by the Department of Labor of the AICPA's Registered Apprenticeship for Finance Business Partners program. His company has been an early adopter of the program, and he's an advocate of its value. On this episode of the Journal of Accountancy podcast, Young speaks about the program, the questions he's getting from other CFOs, and what he sees as the program's future in addressing talent concerns.

Lindsay Stevenson, CPA, CGMA, chief transformation officer at the firm BPM, reflects on two recent conferences and shares thoughts on what might be next for remote work. The conversation also touches on her hopes for 2023, including the importance of addressing change fatigue and rebuilding relationships. Here are links to Stevenson's previous appearances on the JofA podcast: "You Can't Transform Without Missteps" in May 2022. "How to Keep Fear From Short-Circuiting Your Career" in June 2019.

When Jeannine K. Brown was a Journal of Accountancy podcast guest in September, she talked about the need for organizations to create a sense of psychological safety for employees. A few weeks back, after she had spoken at the Future of Finance Summit in Austin, Texas, Brown said that personal well-being and professional development were two vital activities that at times were neglected by people and organizations the past few years. Brown, the founder and CEO of Everyday Lead, hopes that neglect can be changed in the coming year, with employers taking the lead by showing they care about the lives and development of employees.

With the pace of change accelerating on numerous fronts, finance leaders are aiming to stay ahead on trends such as hybrid work, lack of talent, and other issues. A group shared ideas and hopes for the future at the Future of Finance Summit last week in Austin, Texas, and this podcast episode summarizes the key thoughts that emerged from the event. The speakers in this episode are, in order: Shifra Kolsky, CPA, CGMA, the chief accounting officer and controller at Discover Financial Services; Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, together as the Association of International Certified Professional Accountants; Kimberly Ellison-Taylor, CPA/CITP, CGMA, the founder of KET Solutions and a former AICPA chair; and Tom Hood, CPA/CITP, CGMA, AICPA & CIMA's executive vice president–Business Engagement & Growth.

Few people in the accounting space know more about technology than Inspector Gadget. Inspector Gadget? The cartoon character with the go-go arms from the 1980s? Good guess, but no. The man wearing the trench coat in this case is David Cieslak, CPA/CITP, CGMA, executive vice president and chief cloud officer for RKL eSolutions and a popular speaker whose Inspector Gadget session has been a highlight of accounting conferences for many years.

Julia Lamm is a workforce transformation partner at PwC, and in her role she hears executives' thoughts on strategies and their concerns related to talent management. Lamm joined the Journal of Accountancy podcast earlier this month to discuss recent PwC data related to talent — developing it, potentially reducing staff numbers, and more.

Sentiment about the economy, domestically and globally, is quite low in the quarterly Business & Industry Economic Outlook Survey. In fact, the last time there was this much pessimism among U.S. CPA decision-makers was 13 years ago, according to the data. This podcast episode takes a closer look at that sentiment, explores specific challenges, points out some signs that finance executives are optimistic for the future, and delves into the effect of all this uncertainty on company forecasting practices. Hear the analysis of longtime survey overseer Ken Witt, CPA, CGMA, associate director–Management Accounting Research and Development at AICPA & CIMA, together as the Association of International Certified Professional Accountants.

If the words "busy season" start your stomach churning, Rabecca Eunis, CPA, knows how you feel. Starting her accounting career with her father's firm, Eunis soon learned to hate the three-month grind to tax day. Her disdain grew so strong that it motivated her to launch her own firm — not to escape tax season but to find ways to make the experience less stressful and more fun.

Steve Player, a CPA with a passion for advancing the profession, recently died. Today, we pause to remember Player and the contributions he enthusiastically made to accounting. Player generously lent his expertise to numerous Journal of Accountancy and FM magazine projects over the years, and he was a regular speaker at conferences. He did all of that with an infectious fervor.

About a year ago, the AICPA announced a new route to obtaining the Chartered Global Management Accountant designation. The path is an apprenticeship program that, earlier this week, welcomed the first three companies as official partners in the program. The Registered Apprenticeship for Finance Business Partners program was part of the festivities in Chicago at the kickoff of National Apprenticeship Week. Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement & Growth at the AICPA, is the guest on this edition of the Journal of Accountancy podcast to talk more about the program and where it's headed.

CPAs April Walker, Brandon Lagarde, and Kristin Esposito all attended last week's AICPA & CIMA National Tax Conference in Washington. Walker is a lead manager in the AICPA Tax Section, and Esposito is a director on the Tax Policy & Advocacy Team. Lagarde, a Louisiana firm leader, is chair of the Tax Practice Management Committee. They each shared takeaways from the event and what practitioners can focus on in the future. "You get an insight into what impacts your practice and things that you don't even know impact your practice that you learn," Lagarde said.

This episode of the podcast summarizes recent news coverage in the Journal of Accountancy, along with an article on what to consider before converting a traditional IRA to a Roth IRA. The episode highlights articles in the November issue of the magazine flipbook. Content mentioned in the episode includes: Coverage of the AICPA & CIMA National Tax Conference: The sentiment of former IRS commissioners, along with one concern of National Taxpayer Advocate Erin Collins. Details on the growing tax gap, according to IRS data. NOCLAR: What CPAs in public practice and in business should know. What to think about before converting a traditional IRA to a Roth IRA. How CPAs can protect clients from elder financial abuse. The Last Word feature by Andrew Hunzicker, CPA. Technology Q&A articles about Excel's Advanced Filter feature and comparing versions of a Word document.

Sarah Ference, CPA, is a risk control director at CNA, the underwriter of the AICPA's Professional Liability Insurance Program. She also is a co-author for the Journal of Accountancy's monthly Professional Liability Spotlight column. In her current role, Ference advises firms of all sizes on how they can manage their professional liability risk. In this episode, a collaboration with the Small Firm Philosophy podcast, Ference talks with Jeff Drew about what to look for in email, the danger of clicking on unfamiliar links, and more.

Nine articles have been posted on journalofaccountancy.com since Oct. 13, which means there's been a lot of recent news affecting the accounting profession. This episode focuses on several of those articles, which offer advice, a chance to test knowledge, and some key numbers when it comes to thinking about the 2023 tax year. Here is a list of article topics mentioned in the episode: IRS annual inflation adjustments. An AICPA letter seeking guidance on the corporate alternative minimum tax. A quiz on helping clients reduce cash-handling risks. Understanding the tax consequences of remote work. Advice for negotiating once you've received a job offer. Annual wage base and COLA announcement by the Social Security Administration. FASB moves toward standard for fair value accounting of cryptoassets. FASB seeks input on proposed new chapter for its Conceptual Framework.

An exposure draft was issued recently by the AICPA for the Statements on Standards for Tax Services (SSTSs). April Walker, CPA, CGMA, lead manager on the AICPA's Tax Practice & Ethics team, talks with Henry Grzes, CPA, also a Tax Section lead manager, and Dave Holets, CPA, a partner in the Crowe National Tax Services Group and chairman of the SSTS Revision Task Force, about the details of the proposed changes, including what's new in the proposals.

News coverage on the Journal of Accountancy site touched on numerous topics recently, from financial planning advice to questions interviewees can ask employers to updates from the IRS and SEC. This episode touches on all those topics, plus it has a clip from a recent AICPA & CIMA and CPA.com Town Hall Series discussion about the CPA pipeline.

To celebrate National Hispanic Heritage Month, Gil Vasquez, CPA, the founder of the Association of Latino Professionals for America (ALPFA), joins the Journal of Accountancy podcast to discuss the history of ALPFA and how it has evolved over the years. The founder and managing partner of Vasquez & Company LLP talks about early struggles to land a job as a CPA and some of the work he has done serving on boards in Los Angeles. National Hispanic Heritage Month is Sept. 15 to Oct. 15.

Change has been the one constant for companies since 2020, and the wave of new developments is challenging corporate boards to consider a fresh approach. The Future of the American Board, a new report from the National Association of Corporate Directors (NACD), offers a framework for boards looking for answers. Sue Cole, chair of the NACD, joins the Journal of Accountancy podcast to discuss how the NACD's framework can be a resource for boards tasked with navigating an ever-changing corporate landscape.

For Tiffany Willis, CPA, the role as vice president and head of investor relations at Starbucks is "an overwhelming honor." She wasn't always certain she would end up in such a role, and in reflecting on her life, she said that her proudest moment was "just never giving up." Willis also explains how finance professionals can "own their narrative" and why it's important to be open about goals and dreams.